Finmeccanica S.p.A. ADR (FINMY) - OTCPK - Current
  • Feb. 24, 2015, 10:00 AM
    • Further expanding its transportation business overseas, Hitachi (OTCPK:HTHIY -1.7%) has agreed to pay $1B for two units from Finmeccanica (OTCPK:FINMY -2.7%), which is looking to concentrate on its core aerospace and defense businesses.
    • Hitachi will pay €773M ($876.1M) for Finmeccanica’s 40% stake in rail signaling operator Ansaldo and €36M for its unprofitable train manufacturer AnsaldoBreda.
    • Following the closing of the deal, Hitachi will launch a mandatory tender offer on Ansaldo’s publicly traded shares, potentially boosting its total payout to as much as $2.5B.
    • Previously: Hitachi confirms bid for Finmeccanica train-making, signal assets (Dec. 17 2014)
    | Feb. 24, 2015, 10:00 AM
Company Description
Currently, there's no company description for FINMY.
Industry: Aerospace/Defense Products & Services
Country: Italy